What are the types of foreign exchange pending orders?

There are four types of pending orders: buy limit, buy stop, sell limit and sell limit.

A buy limit refers to a buy pending order set below the current price, such as the current price of Euro/USD 1.3000. If customers want to set the buy order to 1.2980, they need to use the buy limit order type. Buy the limit price, the pending order is lower than the current price, that is, do more on dips.

Stop loss refers to setting a pending order to buy above the current price, which belongs to the operation of chasing more. Buying a stop loss and hanging the list above the current price is a breakthrough in chasing orders.

SelllLimit refers to setting short pending orders above the current price, which is a high short operation. For example, the current price of EUR/USD is 1.3000. If the customer wants to set the pending order to 1.3020, they need to use the SelllLimit type pending order. Sell the limit price, hang a sell order above the current price, that is, short on rallies.

Selling stop loss refers to setting short pending orders below the current price, which belongs to chasing empty operations. Sell stop loss, hang a sell order below the current price, that is, break through the chase order.

Popular theory of pending orders

Selling stop loss: It is believed that after the exchange rate falls to the price of X, it will definitely fall and continue to fall. You can short at the X price, and when the price reaches the X price, the system will automatically close the transaction.

Buy stop loss: I think the exchange rate will definitely rise when it reaches the price of X, and it will continue to rise. You can do more at the price of X, and when the price reaches the price of X, the system will automatically close the deal.

Sellllimit: I think the exchange rate will rebound after it rises to the price of X, so I can short the price of X, and when the price reaches the price of X, the system will automatically close the transaction. ..

Buying restriction: I think the exchange rate will rebound upward after falling to the X price, and you can do more at the X price. When the price reaches X price, the system will automatically close the transaction. Stop loss can be understood as a breakthrough order, when the price breaks through a certain price, in another sense, the price limit can be understood as optimizing the pending order; That is, there are few slip points; Stop loss can be understood as a breakthrough in chasing orders, and slippage occurs from time to time. Each pending order method has its advantages and disadvantages, and it is difficult to be perfect.